Single Vision Lenses Market Size, Share, Growth, and Industry Analysis by Type (Plastic Single Vision Lenses, Polycarbonate Single Vision Lenses, and High-index Single Vision Lenses), By Application (Myopia, Hyperopia, and Others) Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2022 To 2030

Updated On: 11 September 2023

Single Vision Lenses Market Report Overview

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The global single vision lenses market size was USD 66.75 billion in 2021 and is projected to touch USD 83.35 billion by 2028, exhibiting a CAGR of 3.2% during the forecast period.

Single vision lenses are extensively used for farsighted people. The lenses are thicker at the center. The size range between 3-4mm in thickness. The lenses only offer one type of vision correction. It is crafted to help people to see better at shorter or farther distance. The lenses cannot be used for both vision.

Growing demand to wear lenses among population is estimated to surge market growth. Rising awareness about the benefits of the product is expected to propel market growth. Increasing demand for not to wear glasses is projected to drive market growth. Growing rate of ophthalmologic is predicted to fuel market growth during the forecast period. Increasing demand for healthier eye and comfortable lenses is anticipated to accelerate product demand.

COVID-19 Impact: Shift Towards from Single Vision Lenses to Eyeglasses to Hamper Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with single vision lenses experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Outbreak of COVID-19 pandemic impeded demand for the product globally. During the pandemic general population shift toward from the devices to eyeglasses. Increasing concern about infection reduced product demand. Closure of customer facilities hampered market growth. Increasing number of coronavirus cases declined the revenue. Lack of patients visiting eye care professionals during pandemic hampered single vision lenses market growth.

On the contrary, post COVID-19, market is witnessing significant growth due to growing demand for eye care. Upliftment of lockdown restrictions resulted in increasing patient volume visiting professionals. 

Single Vision Lenses Market Segmentation

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• By Type

Based on type, the market is divided into plastic single vision lenses, polycarbonate single vision lenses, and high-index single vision lenses.

Polycarbonate single vision lenses is expected to be the leading part of the type segment.

• By Application

On the basis of application, the market is classified into myopia, hyperopia, and others.

Myopia is expected to be the leading part of the type application.

LATEST TRENDS

"Growing Concern Related to Eye Safety to Foster Market Expansion "

Increasing concern about eye safety among population is projected to drive market growth. The product helps people to see better at shorter or farther distance. Such advantages are predicted to accelerate market growth during the forecast period. Several eye problems occur among people for working in front of computers is expected to fuel market growth. Growing development in correcting vision is anticipated to accelerate market growth. The lenses are commonly used for better eyesight is projected to boost product adoption. Increasing need for healthy eye care is predicted to surge market growth. Growing awareness among population about vision correction is anticipated to accelerate single vision lenses market growth.

DRIVING FACTORS

"Advantages of the Product to Incite Market Growth "

The product has multiple benefits such as no use of cleaning and rinsing. It has disinfecting and lubricating properties which is predicted to boost product adoption. The product is convenient and easy to wear which is projected to drive market growth. Further, it has enzyme for removal solutions which is predicted to fuel market growth. Rising number of people suffering from vision impairment is predicted to fuel market growth. Growing awareness among general population about eye care is predicted to accelerate market growth. Increasing adoption of advance devices in developing eye care products is estimated to fuel market growth during the forecast period. Growing investment in developing healthcare sector is estimated to surge market growth. Increasing disposable income among population is predicted to accelerate single vision lenses market growth. 

"Growing Prevalence of Refractive Errors to Augment Market Growth     "

Increasing prevalence of myopia and presbyopia among children and adult population is estimated to fuel market growth. Rising rate of uncorrected refracted eye error is predicted to surge market growth. Increasing rate of ophthalmologic is projected to drive market growth. Growing need to not to wear glass among population is expected to boost product adoption. Further, increasing problems such as keratoconus and aniseikonia are better corrected with the product then the glasses. Such resolving properties are estimated to accelerate market growth during the forecast period. Increasing demand for cosmetic wear is projected to boost product adoption. Higher demand to wear single vision lenses wear for looking aesthetic and stylish is anticipated to accelerate market growth. Increasing government funding for ophthalmic care is projected to drive single vision lenses market growth.

RESTRAINING FACTORS

"High Cost of Product to Hamper Market Growth "

High cost associated with the product is estimated to hamper market growth. Side effect associated with product such as red eye, infection, corneal edema, allergy, and photophobia is predicted to restrict market growth in the forthcoming years.

Single Vision Lenses Market Regional Insights

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"Increasing Ophthalmological Patients in North America to Drive Market Share "

North America is expected to hold largest part of single vision lenses market share due to increasing ophthalmological patients. Growing demand for lenses in the region is predicted to surge market growth. Rising issue of ophthalmic among adults is anticipated to fuel market growth. Increasing health-care infrastructure is predicted to accelerate market growth during the forecast period. Growing awareness among patient population about vision correction treatment is projected to drive market growth.

Europe is expected to show considerable market growth due to increasing government funding for ophthalmic care. Increasing advancement in contact lenses technologies is predicted to fuel market growth. Presence of major market players in the region is estimated to surge market growth during the forecast period.

Asia Pacific is estimated to expand market growth due to high population. Increasing healthcare care awareness among population is estimated to fuel market growth. Growing disposable income in the region is predicted to accelerate market growth during the forecast period. Increasing investment in developing healthcare industry is predicted to fuel market growth during the forecast period.

KEY INDUSTRY PLAYERS

"Leading Players Adopt Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Essilor (France)
• ZEISS (Germany)
• HOYA (Japan)
• Rodenstock (Germany)
• Nikon (Japan)
• SHAMIR (Israel)
• VISION-EASE LENS (U.S.)
• Mingyue (China)
• Conant (U.S.)
• Wanxin (China)
• SEIKO (U.K)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.